NewEdge Advisors LLC Has $2.93 Million Stock Holdings in Genuine Parts (NYSE:GPC)

NewEdge Advisors LLC raised its holdings in Genuine Parts (NYSE:GPC) by 5.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,060 shares of the specialty retailer’s stock after buying an additional 1,234 shares during the quarter. NewEdge Advisors LLC’s holdings in Genuine Parts were worth $2,926,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Anchor Investment Management LLC raised its stake in Genuine Parts by 59.4% during the 3rd quarter. Anchor Investment Management LLC now owns 1,503 shares of the specialty retailer’s stock valued at $210,000 after purchasing an additional 560 shares during the last quarter. Pine Valley Investments Ltd Liability Co lifted its stake in shares of Genuine Parts by 16.4% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 27,075 shares of the specialty retailer’s stock valued at $3,792,000 after buying an additional 3,813 shares during the period. Wilmington Savings Fund Society FSB grew its position in Genuine Parts by 1,229.9% during the third quarter. Wilmington Savings Fund Society FSB now owns 32,476 shares of the specialty retailer’s stock worth $4,536,000 after buying an additional 30,034 shares in the last quarter. Optimist Retirement Group LLC raised its holdings in Genuine Parts by 26.8% in the 3rd quarter. Optimist Retirement Group LLC now owns 15,802 shares of the specialty retailer’s stock valued at $2,207,000 after acquiring an additional 3,338 shares in the last quarter. Finally, Synovus Financial Corp lifted its position in shares of Genuine Parts by 95.4% in the 3rd quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer’s stock worth $54,708,000 after acquiring an additional 191,272 shares during the period. 78.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GPC. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. The Goldman Sachs Group reiterated a “sell” rating and set a $114.00 target price (down from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Loop Capital assumed coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday. Finally, Evercore ISI raised Genuine Parts from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $128.00 to $135.00 in a report on Friday, April 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Genuine Parts has an average rating of “Moderate Buy” and an average target price of $131.00.

Genuine Parts Stock Performance

NYSE:GPC opened at $114.02 on Monday. The stock has a market capitalization of $15.82 billion, a P/E ratio of 17.62 and a beta of 0.82. Genuine Parts has a 1 year low of $104.01 and a 1 year high of $163.86. The firm has a 50 day moving average of $119.81 and a 200-day moving average of $121.22. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same quarter in the previous year, the firm earned $2.26 earnings per share. As a group, sell-side analysts anticipate that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th were given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio (DPR) is presently 63.68%.

Genuine Parts Company Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.